Overview
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- TickerCTOS on NYSE2
- IndustryServices-Equipment Rental & Leasing, NEC2
- HeadquartersKansas City, United States2
- Incorporated inDE3
- Business address7701 Independence Avenue, Kansas City, Mo 641253
- Filer categoryAccelerated filer3
- Legal formCorporation2
- LEI2549008QOVAS9KBZ4E502
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 75385502
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Any statements made in this report that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and should be evaluated as such. These statements often include words such as “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “suggests,” “plans,” “targets,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” “could,” “would,” and other similar expressions. We base these forward-looking statements or projections on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances and at …5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Equipment Sales brought in 46% of the revenue Custom Truck One Source, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Equipment Sales | $1.3B | $1.2B | $1.3B |
| Sales and Services, Equipment Sales | $1.2B | $1.2B | $1.3B |
| Sales And Services, Parts And Services | $110.6M | $126.2M | $122.3M |
| Sales and Services, Parts And Services, Services To Customers | $30.0M | $27.2M | $31.0M |
| Rental Revenue | $25.2M | $20.7M | $25.6M |
| Rental Revenue, Shipping And Handling | $25.2M | $20.7M | $25.6M |
Business segments
Truck And Equipment Sales brought in 56% of the revenue Custom Truck One Source, Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Truck And Equipment Sales | $990.4M | $1.1B | $1.1B |
| Equipment Rental Solutions | $726.2M | $597.8M | $701.0M |
| Aftermarket Parts and Services | $148.5M | $149.1M | $147.7M |
Regions
United States brought in 98% of the revenue Custom Truck One Source, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $1.8B | $1.8B | $1.9B |
| CA [member] | $48.6M | $47.1M | $39.6M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue87¢$1.5B
- Selling, general and admin13¢$230.1M
- Income tax0¢$2.9M
Out of $1.4B in revenue.6 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Share buybacks11¢$32.6M
- Kept or used elsewhere89¢$277.5M
Out of $310.1M of cash from operations.6
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenue | $1.9B | $1.8B | $1.9B |
| Depreciation of rental equipment | $215.6M | $183.5M | $170.7M |
| Total cost of revenue | $1.5B | $1.4B | $1.4B |
| Gross Profit | $411.9M | $390.3M | $454.3M |
| Selling, general and administrative expenses | $230.1M | $229.5M | $231.4M |
| Amortization | $27.0M | $26.7M | $27.1M |
| Non-rental depreciation | $13.3M | $13.3M | $10.7M |
| Transaction expenses and other | $16.6M | $17.9M | $14.1M |
| Gain on sale leaseback transaction | $0 | -$23.5M | $0 |
| Total operating expenses | $286.9M | $263.9M | $283.3M |
| Operating Income (Loss) | $124.9M | $126.4M | $170.9M |
| Interest expense, net | $157.6M | $167.1M | $131.3M |
| Financing and other (income) expense | -$4.5M | -$11.6M | -$18.4M |
| Total other expense | $153.1M | $155.6M | $112.9M |
| Income (Loss) Before Income Taxes | -$28.1M | -$29.2M | $58.1M |
| Income Tax Expense (Benefit) | $2.9M | -$532.0K | $7.4M |
| Net Income (Loss) | -$31.1M | -$28.7M | $50.7M |
| Unrealized foreign currency translation adjustments, net | $4.1M | -$8.8M | $3.0M |
| Other Comprehensive Income (Loss) | $4.1M | -$8.8M | $3.0M |
| Comprehensive Income (Loss) | -$26.9M | -$37.4M | $53.7M |
| Basic (in dollars per share) | -$0.14 | -$0.12 | $0.21 |
| Diluted (in dollars per share) | -$0.14 | -$0.12 | $0.21 |
| Basic (in shares) | 227.0M shares | 237.0M shares | 245.1M shares |
| Diluted (in shares) | 227.0M shares | 237.0M shares | 245.7M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $6.3M | $3.8M | ||
| Accounts receivable, net | $195.5M | $215.9M | ||
| Financing receivables, net | $8.9M | $8.9M | ||
| Inventory | $930.9M | $1.0B | ||
| Prepaid expenses and other | $17.0M | $23.6M | ||
| Total current assets | $1.2B | $1.3B | ||
| Property and equipment, net | $142.5M | $130.9M | ||
| Rental equipment, net | $1.1B | $1.0B | ||
| Goodwill | $705.2M | $704.8M | $704.0M | |
| Intangible assets, net | $225.7M | $252.4M | ||
| Operating lease assets | $110.9M | $94.7M | ||
| Other assets | $11.8M | $16.0M | ||
| Total Assets | $3.4B | $3.5B | ||
| Accounts payable | $88.4M | $88.5M | ||
| Accrued expenses | $69.2M | $69.3M | ||
| Deferred revenue and customer deposits | $23.5M | $26.2M | ||
| Floor plan payables - trade | $291.2M | $330.5M | ||
| Floor plan payables - non-trade | $366.2M | $470.8M | ||
| Operating lease liabilities - current | $9.0M | $7.4M | ||
| Current maturities of long-term debt | $25.9M | $7.8M | ||
| Total current liabilities | $873.3M | $1.0B | ||
| Long-term debt, net | $1.6B | $1.5B | ||
| Operating lease liabilities - noncurrent | $105.9M | $88.7M | ||
| Deferred income taxes | $33.8M | $31.4M | ||
| Total long-term liabilities | $1.8B | $1.6B | ||
| Common stock $0.0001 par value, 500,000,000 shares authorized; 253,312,368 and 251,908,970 shares issued; and 226,625,924 and 233,794,319 shares outstanding, at December 31, 2025 and December 31, 2024, respectively | $25.0K | $25.0K | ||
| Treasury stock, at cost 26,686,444 and 18,114,651 shares at December 31, 2025 and December 31, 2024, respectively | -$122.6M | -$88.2M | ||
| Additional paid-in capital | $1.6B | $1.6B | ||
| Accumulated other comprehensive loss | -$10.6M | -$14.7M | ||
| Accumulated deficit | -$617.6M | -$586.5M | ||
| Total stockholders' equity | $809.1M | $861.3M | $917.2M | $888.4M |
| Total Liabilities and Stockholders' Equity | $3.4B | $3.5B | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, authorized (in shares) | 500.0M shares | 500.0M shares | ||
| Common stock, issued (in shares) | 253.3M shares | 251.9M shares | ||
| Common stock, outstanding (in shares) | 226.6M shares | 233.8M shares | ||
| Treasury stock (in shares) | 26.7M shares | 18.1M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $6.3M | $3.8M | ||
| Accounts receivable, net | $195.5M | $215.9M | ||
| Financing receivables, net | $8.9M | $8.9M | ||
| Inventory | $930.9M | $1.0B | ||
| Prepaid expenses and other | $17.0M | $23.6M | ||
| Total current assets | $1.2B | $1.3B | ||
| Property and equipment, net | $142.5M | $130.9M | ||
| Rental equipment, net | $1.1B | $1.0B | ||
| Goodwill | $705.2M | $704.8M | $704.0M | |
| Intangible assets, net | $225.7M | $252.4M | ||
| Operating lease assets | $110.9M | $94.7M | ||
| Other assets | $11.8M | $16.0M | ||
| Total Assets | $3.4B | $3.5B | ||
| Accounts payable | $88.4M | $88.5M | ||
| Accrued expenses | $69.2M | $69.3M | ||
| Deferred revenue and customer deposits | $23.5M | $26.2M | ||
| Floor plan payables - trade | $291.2M | $330.5M | ||
| Floor plan payables - non-trade | $366.2M | $470.8M | ||
| Operating lease liabilities - current | $9.0M | $7.4M | ||
| Current maturities of long-term debt | $25.9M | $7.8M | ||
| Total current liabilities | $873.3M | $1.0B | ||
| Long-term debt, net | $1.6B | $1.5B | ||
| Operating lease liabilities - noncurrent | $105.9M | $88.7M | ||
| Deferred income taxes | $33.8M | $31.4M | ||
| Total long-term liabilities | $1.8B | $1.6B | ||
| Common stock $0.0001 par value, 500,000,000 shares authorized; 253,312,368 and 251,908,970 shares issued; and 226,625,924 and 233,794,319 shares outstanding, at December 31, 2025 and December 31, 2024, respectively | $25.0K | $25.0K | ||
| Treasury stock, at cost 26,686,444 and 18,114,651 shares at December 31, 2025 and December 31, 2024, respectively | -$122.6M | -$88.2M | ||
| Additional paid-in capital | $1.6B | $1.6B | ||
| Accumulated other comprehensive loss | -$10.6M | -$14.7M | ||
| Accumulated deficit | -$617.6M | -$586.5M | ||
| Total stockholders' equity | $809.1M | $861.3M | $917.2M | $888.4M |
| Total Liabilities and Stockholders' Equity | $3.4B | $3.5B | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, authorized (in shares) | 500.0M shares | 500.0M shares | ||
| Common stock, issued (in shares) | 253.3M shares | 251.9M shares | ||
| Common stock, outstanding (in shares) | 226.6M shares | 233.8M shares | ||
| Treasury stock (in shares) | 26.7M shares | 18.1M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | -$31.1M | -$28.7M | $50.7M |
| Depreciation and amortization | $263.9M | $235.8M | $219.0M |
| Amortization of debt issuance costs | $4.4M | $5.7M | $5.7M |
| Provision for losses on accounts receivable | $9.4M | $10.8M | $8.5M |
| Share-based compensation | $8.5M | $11.9M | $13.3M |
| Gain on sales and disposals of rental equipment | -$50.0M | -$46.0M | -$67.7M |
| Change in fair value of warrants | $0 | -$527.0K | -$2.5M |
| Gain on sale leaseback transaction | $0 | -$23.5M | $0 |
| Deferred tax expense (benefit) | $2.1M | -$1.7M | $4.2M |
| Accounts and financing receivables | $15.6M | -$21.8M | -$20.9M |
| Inventories | $121.1M | -$64.9M | -$388.1M |
| Prepaids, operating leases and other | $9.0M | $1.7M | $3.5M |
| Accounts payable | -$660.0K | -$27.5M | $28.3M |
| Accrued expenses and other liabilities | -$137.0K | -$4.3M | $4.3M |
| Floor plan payables - trade, net | -$39.3M | $77.3M | $116.6M |
| Customer deposits and deferred revenue | -$2.8M | -$2.5M | -$5.9M |
| Net cash flow from (for) operating activities | $310.1M | $122.0M | -$30.9M |
| Acquisition of businesses, net of cash acquired | $0 | -$6.0M | $0 |
| Purchases of rental equipment | -$457.0M | -$398.3M | -$364.2M |
| Proceeds from sales and disposals of rental equipment | $206.1M | $204.6M | $229.6M |
| Proceeds from sale leaseback transaction, net of expenses | $0 | $52.5M | $0 |
| Purchase of non-rental property and cloud computing arrangements | -$31.6M | -$40.3M | -$42.0M |
| Net cash flow for investing activities | -$282.5M | -$187.5M | -$176.6M |
| Borrowings under revolving credit facilities | $346.0M | $255.7M | $221.0M |
| Repayments under revolving credit facilities | -$230.9M | -$225.2M | -$106.4M |
| Proceeds from debt, net issuance costs | $6.5M | $7.5M | $21.0M |
| Repayments of notes payable | $0 | -$3.2M | $0 |
| Principal payments on long-term debt | -$8.5M | -$8.2M | -$7.7M |
| Finance lease payments | $0 | $0 | -$2.7M |
| Acquisition of inventory through floor plan payables - non-trade | $482.3M | $605.7M | $789.2M |
| Repayment of floor plan payables - non-trade | -$587.0M | -$544.0M | -$673.6M |
| Repurchase of common stock | -$32.6M | -$29.0M | -$38.8M |
| Share-based payments | -$1.2M | -$1.1M | $792.0K |
| Net cash flow (for) from financing activities | -$25.3M | $58.3M | $202.9M |
| Effect of exchange rate changes on cash and cash equivalents | $87.0K | $713.0K | $554.0K |
| Net Change in Cash and Cash Equivalents | $2.5M | -$6.5M | -$4.1M |
| Interest paid | $155.4M | $152.3M | $122.9M |
| Income taxes paid by jurisdiction, net of refunds | $713.0K | $4.1M | $2.1M |
| Property and equipment purchases in accounts payable | $1.0M | $564.0K | $2.1M |
| Rental equipment sales in accounts receivable | $2.5M | $4.3M | $22.5M |
No quarter-by-quarter statement was filed.
Corporate structure
Custom Truck One Source, Inc. sits at the top of its group. 35 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Custom Truck One Source, Inc.
- EIN MARK Filed SCHEDULE 13D/A on Custom Truck One Source, Inc., latest Oct 21, 2025
- ECP ControlCo, LLC Filed SCHEDULE 13D/A on Custom Truck One Source, Inc., latest Feb 3, 2025 (6 filings since Dec 29, 2021)
- PLATINUM EQUITY, LLC Filed SCHEDULE 13D/A on Custom Truck One Source, Inc., latest Feb 3, 2025
- Blackstone Holdings III L.P. Filed SC 13D/A on Custom Truck One Source, Inc., latest Feb 22, 2022 (2 filings since Nov 23, 2021)
- Custom Truck One Source, Inc. Kansas City, Missouri, United States
- Capitol Intermediate Holdings, LLC Subsidiary · Delaware, United States
- Capitol Investment Merger Sub 2, LLC Subsidiary · Delaware, United States
- CTE Properties, LLC Subsidiary · Missouri, United States
- CTE, LLC Subsidiary · Wisconsin, United States
- CTEC Holding Co., LLC Subsidiary · Missouri, United States
- CTEC, LLC Subsidiary · Missouri, United States
- CTOS Blocker GP I L.L.C. Subsidiary · Delaware, United States
- CTOS Blocker GP II L.L.C. Subsidiary · Delaware, United States
- CTOS Blocker I, L.P. Subsidiary · Delaware, United States
- CTOS Blocker II, L.P. Subsidiary · Delaware, United States
- CTOS California, LLC Subsidiary · California, United States
- CTOS Canada, Ltd. dba HiRail Leasing Subsidiary · Ontario, Canada
- CTOS Rentals, LLC Subsidiary · Delaware, United States
- CTOS, LLC Subsidiary · Delaware, United States
- Custom Crane Rental, LLC Subsidiary · Missouri, United States
- Custom Equipment Rental, LLC Subsidiary · Missouri, United States
- Custom Fabrication & Equipment, LLC Subsidiary · Missouri, United States
- Custom Truck & Equipment, LLC Subsidiary · Missouri, United States
- Custom Truck One Source Forestry Equipment, LLC Subsidiary · Delaware, United States
- Equipment Repair Solutions, LLC Subsidiary · Florida, United States
- Load King Parts, LLC Subsidiary · Missouri, United States
- Load King, LLC Subsidiary · Michigan, United States
- NESCO Finance Corporation Subsidiary · Delaware, United States
- NESCO Holdings II, Inc. Subsidiary · Delaware, United States
- NESCO International, LLC Subsidiary · Delaware, United States
- and 9 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Custom Truck One Source, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Computer equipment and software | $36.7M6 Dec 31, 2025 | $36.7M6 Dec 31, 2024 | 0% |
| Operating-lease assets (leased space) | $110.9M6 Dec 31, 2025 | $94.7M6 Dec 31, 2024 | +17.1% |
Investments
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $705.2M6 Dec 31, 2025 | $704.8M6 Dec 31, 2024 | +0.1% |
| Intangible assets, net (excluding goodwill) | $225.7M6 Dec 31, 2025 | $252.4M6 Dec 31, 2024 | −10.6% |
| Finite-lived intangibles, gross | $393.2M6 Dec 31, 2025 | $395.5M6 Dec 31, 2024 | −0.6% |
| Accumulated amortization | $167.5M6 Dec 31, 2025 | $143.1M6 Dec 31, 2024 | +17.0% |
| Finite-lived intangibles, net | $225.7M6 Dec 31, 2025 | $252.4M10 Dec 31, 2024 | −10.6% |
Inventory
Properties, in its own words
Our headquarters are in Kansas City, Missouri where we house executive management, accounting, finance, information technology, human resources, marketing and procurement professionals. Kansas City, Missouri is also home to our mega-center which performs the majority of our production and manufacturing. We maintain a diverse geographic footprint in the U.S. and Canada, with more than 40 equipment rental and service locations. These facilities are typically service centers for the maintenance and support of our equipment and, depending on the location, may include separate areas for displaying and storage of equipment and parts. Our one-stop shop approach focuses on providing the products and services offered by each of our segments at each of our locations.
Location · Type
The rest of Item 2
7701 Independence Avenue, Kansas City, MO United States · Owned
11102 261 St Acheson, AB Canada · Leased
9230 51 St SE Calgary, AB Canada · Leased
127 Earl Thompson PL, Ayr, ON Canada · Leased
4045 Hwy 5 and 2665 South Rockwood Cabot, AR United States · Leased
655 E 20Th St Yuma, AZ United States · Leased
4500 State Rd and 1032 Black Gold Rd Bakersfield, CA United States · Leased
14670 Randall Ave Fontana, CA United States · Leased
5455 E 52nd Ave Commerce City, CO United States · Leased
4729 Capital Cir Nw and 4755DI Capital Cir Nw Tallahassee, FL United States · Leased
9879 Us Hwy 301 N; 7906 Baseline Ct and 8949 Maislin Rd Tampa, FL United States · Leased
3112 E State Rd 124 Bluffton, IN United States · Leased
10740 Nall Ave Overland Park, KS United States · Leased
9230 Cedar Knoll Dr Grass Lake, MI United States · Leased
2370 and 2384 English St Maplewood, MN United States · Leased
2109 Manchester Trafficway, 1850 Southern Road, and 6900 N Executive Drive, Kansas City, MO United States · Leased
6 Sutton Cir and Unit 2 Sutton Cir Condominium Hooksett, NH United States · Leased
1400 Union Lndg Rd and 1850 Union Lndg Rd Cinnaminson, NJ United States · Leased
7909 N Upland Drive, Portland, OR United States · Leased
3522 Middlebranch Rd NE Canton, OH United States · Leased
3205 Davinion Rd El Reno, OK United States · Leased
300 Johnson St and 212 Johnson St Wilkes Barre, PA United States · Leased
1400 E Hwy 67 Alvarado, TX United States · Leased
7200 Jack Newell Blvd S, 2020 E 4th St, and 2422 Gravel Rd Fort Worth, TX United States · Leased
18725 Mckay Blvd Humble, TX United States · Leased
12519 W I-20 Odessa, TX United States · Leased
9775 E Lynchburg Salem Tpke Forest, VA United States · Leased
26109 and 26119 United Rd NE Kingston, WA United States · Leased
5734 Minder Rd Ste A-1 Poulsbo, WA United States · Leased
1150 Jetport Drive, Orlando, FL United States · Leased
5065 140th Ave NW, Williston, ND United States · Leased
2900 Rissler Rd and 5105 Pelham Dr Sedalia, MO United States · Leased
4334 Snapfinger Woods Dr Atlanta, GA United States · Leased
21209 & 21115 Durand Ave; 4601 Haag Dr, Union Grove, WI United States · Leased
1625 and 1700 Leider Dr Union Grove, WI United States · Leased
12660 E Lynchburg Salem Turnpike Lynchburg, VA United States · Leased
701, 702 and 704 East Rose St and 306 N Pearl St Elk Point, SD United States · Leased
738 W Boeing Dr Casa Grande, AZ United States · Leased
2040 and 2060 Industrial Park Rd Alexandria, LA United States · Leased
7473 Reese Rd Sacramento, CA United States · Leased
2794 S Commerce Way Ogden, UT United States · Leased
118 Wyandanch Ave Wyandanch, NY United States · Leased
4840 90 Ave SE Calgary, Alberta Canada · Leased
6177 S Bay Rd, Cicero, NY United States · Leased
We believe that all of our properties are in good operating condition and are suitable to adequately meet our current needs.
Item 2 of the 10-K filed Mar 10, 2026.5
Leadership
Who has led Custom Truck One Source, Inc., and when. Pick a name to see everywhere that person has worked.
President
Chief financial officer
Chief operating officer
- Chief executive officerRyan McMonagle Nov 15, 2023 to now14
- Chief executive officerFredrick M. Ross Jr. Apr 5, 2021 to Apr 4, 202315
- Chief executive officerLee Jacobson Aug 1, 2019 to May 14, 202016
- PresidentThomas R. Rich Apr 4, 2023 to now17
- PresidentJoe P. Ross Apr 5, 2021 to Apr 4, 202318
- PresidentRyan McMonagle Apr 5, 2021 to Apr 4, 202319
- PresidentRobert Blackadar Aug 1, 2019 to May 13, 202020
- PresidentL. Dyson Dryden Aug 15, 2017 to Aug 21, 201721
- Chief financial officerChristopher J. Eperjesy Aug 17, 2022 to now22
- Chief financial officerBrad Meader Apr 5, 2021 to Apr 5, 202223
- Chief financial officerJoshua A. Boone Jun 15, 2020 to Jun 18, 202024
- Chief financial officerBruce Heinemann Aug 1, 2019 to Mar 20, 202025
- Chief financial officerL. Dyson Dryden Aug 15, 2017 to Aug 21, 201721
- Chief operating officerRyan McMonagle Apr 5, 2021 to Apr 4, 202319
- Chief operating officerKevin Kapelke Aug 1, 2019 to Mar 20, 202026
Board members and other officers (29)
- EVP, Gen. Counsel & SecretaryPaul M. Jolas Mar 26, 2024 to now27
- EVP - RentalsJames Carlsen Apr 5, 2021 to Apr 3, 202428
- EVP - RentalsThomas R. Rich Apr 5, 2021 to Mar 9, 202329
- Chief Accounting OfficerRaymond Todd Barrett Aug 9, 2019 to now30
- EVP and SecretaryAlfheidur Saemundsson Aug 15, 2017 to Aug 15, 201731
- Board memberRyan McMonagle Nov 15, 2023 to now14
- Board memberMary M. Jackson May 3, 2022 to now32
- Board memberBryan Kelln Apr 5, 2021 to Apr 5, 202133
- Board memberDavid M. Glatt Apr 5, 2021 to Apr 5, 202134
- Board memberDavid M. Wolf Apr 5, 2021 to Apr 5, 202135
- Board memberFredrick M. Ross Jr. Apr 5, 2021 to now15
- Board memberGeorgia R. Nelson Apr 5, 2021 to now36
- Board memberJohn-Paul Munfa Apr 5, 2021 to Apr 5, 202137
- Board memberLouis Samson Apr 5, 2021 to Apr 5, 202138
- Board memberMarshall Heinberg Apr 5, 2021 to now39
- Board memberPaul Bader Apr 5, 2021 to now40
- Board memberGerard E. Holthaus Mar 2, 2020 to Jun 15, 202041
- Board memberDouglas W. Kimmelman Aug 1, 2019 to Aug 1, 201942
- Board memberJeffrey Stoops Aug 1, 2019 to Jun 15, 202043
- Board memberLee Jacobson Aug 1, 2019 to May 14, 202016
- Board memberRahman D'Argenio Aug 1, 2019 to Aug 1, 201944
- Board memberWilliam B. Plummer Aug 1, 2019 to Jun 15, 202045
- Board memberMatthew H. Himler Aug 27, 2019 to Aug 27, 201946
- Board memberBrooke B. Coburn Aug 15, 2017 to Aug 1, 201947
- Board memberL. Dyson Dryden Aug 15, 2017 to Jun 15, 202021
- Board memberLawrence Calcano Aug 15, 2017 to Aug 1, 201948
- Board memberRichard C. Donaldson Aug 15, 2017 to Aug 1, 201949
- General counselPaul M. Jolas Aug 2, 2023 to now50
- General counselAdam G. Haubenreich Apr 5, 2021 to Apr 4, 202351
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- CTE Properties, LLC Missouri4
- CTE, LLC Wisconsin4
- CTEC Holding Co., LLC Missouri4
- CTEC, LLC Missouri4
- CTOS Blocker GP I L.L.C. Delaware4
- CTOS Blocker GP II L.L.C. Delaware4
- CTOS Blocker I, L.P. Delaware4
- CTOS Blocker II, L.P. Delaware4
- CTOS California, LLC California4
- CTOS Canada, Ltd. dba HiRail Leasing Ontario, Canada4
- CTOS Rentals, LLC Delaware4
- CTOS, LLC Delaware4
- Capitol Intermediate Holdings, LLC Delaware4
- Capitol Investment Merger Sub 2, LLC Delaware4
- Custom Crane Rental, LLC Missouri4
- Custom Equipment Rental, LLC Missouri4
- Custom Fabrication & Equipment, LLC Missouri4
- Custom Truck & Equipment, LLC Missouri4
- Custom Truck One Source Forestry Equipment, LLC Delaware4
- Custom Truck One Source, L.P. Delaware4
- Equipment Repair Solutions, LLC Florida4
- Load King Parts, LLC Missouri4
- Load King, LLC Michigan4
- NESCO Finance Corporation Delaware4
All 35 listed subsidiaries
- NESCO Holdings II, Inc. Delaware4
- NESCO International, LLC Delaware4
- NESCO Investments, LLC Delaware4
- NESCO, LLC Indiana4
- North American Equipment Road Service, LLC New Hampshire4
- North American Equipment Upfitters, LLC New Hampshire4
- TNT Equipment Sales & Rentals, LLC New Jersey4
- UCO Equipment, LLC Arkansas4
- Utility Fleet Rental, LLC Texas4
- Utility Fleet Sales, Ltd. Texas4
- Utility Fleet Transport, LLC Delaware4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Former names
Timeline
- Aug 3, 20268-K Results of operations; Regulation FD disclosure52
- Jun 11, 20268-K Shareholder vote53
- Apr 27, 20268-K Results of operations; Regulation FD disclosure54
- Mar 25, 20268-K Regulation FD disclosure55
- Mar 10, 20268-K Results of operations; Regulation FD disclosure56
- Dec 23, 20258-K Executive or director change57
- Oct 27, 20258-K Results of operations58
- Jul 30, 20258-K Results of operations; Regulation FD disclosure59
- Jun 12, 20258-K Shareholder vote60
- Apr 30, 20258-K Results of operations; Regulation FD disclosure61
- Mar 4, 20258-K Results of operations; Regulation FD disclosure62
- Feb 3, 20258-K Other events63
- Nov 15, 2023New chief executive Ryan McMonagle becomes CEO14
- Apr 5, 2021New chief executive Fredrick M. Ross Jr. becomes CEO15
- Aug 1, 2019New chief executive Lee Jacobson becomes CEO16
- Jul 30, 2019Founded Custom Truck One Source, Inc. is founded2
Calendar
Coming up
- Oct 26, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported ($0.03) a share, on Oct 27, 2025.64
When it reported results
- Aug 3, 2026Reported quarterly or annual results52
- Apr 27, 2026Reported quarterly or annual results54
- Mar 10, 2026Reported quarterly or annual results56
- Oct 27, 2025Reported quarterly or annual results58
- Jul 30, 2025Reported quarterly or annual results59
- Apr 30, 2025Reported quarterly or annual results61
- Mar 4, 2025Reported quarterly or annual results62
- Oct 30, 2024Reported quarterly or annual results65
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
296 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 55 major events, 167 insider forms, 10 large holders, 44 other. The latest 20:
- Aug 3, 202610-Q EDGAR
- Aug 3, 20268-K EDGAR
- Jun 11, 20268-K EDGAR
- Apr 29, 2026ARS EDGAR
- Apr 29, 2026DEFA14A EDGAR
- Apr 29, 2026DEF 14A EDGAR
- Apr 27, 202610-Q EDGAR
- Apr 27, 20268-K EDGAR
- Apr 10, 2026144 EDGAR
- Apr 3, 20264 EDGAR
- Apr 3, 20264 EDGAR
- Apr 3, 20264 EDGAR
- Apr 3, 20264 EDGAR
- Apr 3, 20264 EDGAR
- Apr 3, 20264 EDGAR
- Apr 2, 20264 EDGAR
- Apr 2, 20264 EDGAR
- Apr 2, 20264 EDGAR
- Apr 2, 20264 EDGAR
- Apr 2, 20264 EDGAR
The 296 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
37 open-market trades by officers, directors and large owners since October 2021: 25 buys and 12 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jan 30, 2025 | Platinum Equity InvestCo, L.P.10% owner | Buy | 8,143,635 | $4.00 | $32.6M | Form 4 |
| Jan 30, 2025 | Gores Tom10% owner | Buy | 8,143,635 | $4.00 | $32.6M | Form 4 |
| Sep 5, 2024 | ENERGY CAPITAL PARTNERS III-D, LP10% owner | Sale | 2,354,109 | $3.42 | $8.1M | Form 4 |
| Sep 5, 2024 | NESCO Holdings GP, LLC10% owner | Sale | 2,354,109 | $3.42 | $8.1M | Form 4 |
| Aug 27, 2024 | Energy Capital Partners Management, LPDirector | Sale | 18,640 | $4.17 | $77.7K | Form 4 |
| Aug 7, 2024 | Ross Joe P.President - Sales | Buy | 84,254 | $3.98 | $335.3K | Form 4 |
| Aug 6, 2024 | Rich Thomas R.President - Rentals | Buy | 26,200 | $3.84 | $100.6K | Form 4 |
| Jun 14, 2024 | Heinberg MarshallDirector | Buy | 10,000 | $4.34 | $43.4K | Form 4 |
| May 8, 2024 | McMonagle RyanChief Executive Officer | Buy | 10,000 | $4.04 | $40.4K | Form 4 |
| May 8, 2024 | NELSON GEORGIA RDirector | Buy | 12,000 | $4.12 | $49.4K | Form 4 |
| May 7, 2024 | BARRETT RAYMOND TODDChief Accounting Officer | Buy | 3,000 | $4.12 | $12.4K | Form 4 |
| May 7, 2024 | Eperjesy Christopher JChief Financial Officer | Buy | 20,000 | $3.90 | $78.0K | Form 4 |
| May 7, 2024 | Heinberg MarshallDirector | Buy | 40,000 | $4.07 | $162.8K | Form 4 |
| Nov 14, 2023 | McMonagle RyanChief Executive Officer | Buy | 20,000 | $5.17 | $103.4K | Form 4 |
| Nov 13, 2023 | Eperjesy Christopher JChief Financial Officer | Buy | 40,000 | $4.89 | $195.6K | Form 4 |
| Nov 10, 2023 | EIN MARKDirector | Buy | 100,000 | $4.96 | $496.0K | Form 4 |
| Nov 10, 2023 | Heinberg MarshallDirector | Buy | 30,000 | $4.79 | $143.7K | Form 4 |
| Sep 11, 2023 | ECP Management GP, LLCDirector | Sale | 41,140 | $6.51 | $267.8K | Form 4 |
| Sep 8, 2023 | Energy Capital Partners Management, LPDirector | Sale | 48,294 | $6.56 | $316.8K | Form 4 |
| Sep 7, 2023 | Energy Capital Partners Management, LPDirector | Sale | 45,660 | $6.72 | $306.8K | Form 4 |
All 37 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- EIN MARKSCHEDULE 13D/A, 1 filing Oct 21, 202566
- ECP ControlCo, LLCSCHEDULE 13D/A, 6 filings Dec 29, 2021 to Feb 3, 202567
- PLATINUM EQUITY, LLCSCHEDULE 13D/A, 1 filing Feb 3, 202568
- Blackstone Holdings III L.P.SC 13D/A, 2 filings Nov 23, 2021 to Feb 22, 202269
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Ryan McMonagle (Chief Executive Officer) | $850.0K | $2.6M70 | |
| 2025 | Christopher J. Eperjesy (Chief Financial Officer) | $608.1K | $1.6M70 | |
| 2025 | Thomas Rich (President — Rentals) | $500.0K | $1.5M70 | |
| 2025 | Joseph Ross (President — Sales) | $500.0K | $1.4M70 | |
| 2025 | Paul M. Jolas (Executive Vice PresidentGeneral Counsel and Corporate Secretary) | $446.2K | $1.1M70 | |
| 2024 | Ryan McMonagle (Chief Executive Officer) | $850.0K | $1.1M70 | |
| 2024 | Christopher J. Eperjesy (Chief Financial Officer) | $597.1K | $831.6K70 | |
| 2024 | Joseph Ross (President — Sales) | $490.4K | $670.2K70 | |
| 2024 | Thomas Rich (President — Rentals) | $490.4K | $663.8K70 | |
| 2024 | Paul M. Jolas (Executive Vice PresidentGeneral Counsel and Corporate Secretary) | $430.0K | $562.3K70 | |
| 2023 | Ryan McMonagle (Chief Executive Officer) | $837.5K | $1.9M70 | |
| 2023 | Christopher J. Eperjesy (Chief Financial Officer) | $585.0K | $1.2M70 | |
| 2023 | Joseph Ross (President — Sales) | $450.0K | $929.9K70 | |
| 2023 | Thomas Rich (President — Rentals) | $450.0K | $918.0K70 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Platinum Equity Advisors, LLC/DE | 156,743,635 | $1.9B | 20.7% | No change |
| Dimensional Fund Advisors LP | 6,172,555 | $72.9M | 0.0% | +569,717 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 6,156,876 | $72.7M | 0.1% | +481,958 |
| Canvas Wealth Advisors, LLC | 5,982,649 | $70.7M | 9.9% | −1,036,877 |
| BlackRock, Inc. | 4,574,024 | $54.0M | 0.0% | +321,052 |
| Vanguard Capital Management LLC | 2,578,410 | $30.5M | 0.0% | +52,666 |
| Allspring Global Investments Holdings, LLC | 2,692,878 | $29.7M | 0.0% | −1,221,255 |
| Arrowstreet Capital, Limited Partnership | 2,202,031 | $26.0M | 0.0% | +1,145,481 |
| Goldman Sachs Group Inc | 1,877,617 | $22.2M | 0.0% | +1,361,882 |
| Geode Capital Management, LLC | 1,727,646 | $20.4M | 0.0% | +257,010 |
| First Eagle Investment Management, LLC | 1,723,506 | $20.4M | 0.0% | +957,684 |
| Alyeska Investment Group, L.P. | 1,642,331 | $19.4M | 0.0% | −1,183,489 |
| Boston Partners | 1,625,092 | $19.2M | 0.0% | −391,314 |
| Jpmorgan Chase & Co | 1,587,319 | $19.0M | 0.0% | +817,100 |
| State Street Corp | 1,518,554 | $17.9M | 0.0% | +32,503 |
| First Trust Advisors LP | 1,510,931 | $17.8M | 0.0% | +209,580 |
| Morgan Stanley | 1,258,227 | $14.9M | 0.0% | +360,702 |
| Bank Of America Corp /de/ | 1,193,457 | $14.1M | 0.0% | −2,379 |
| Algert Global LLC | 1,174,190 | $13.9M | 0.2% | +978,430 |
| Clearbridge Investments, LLC | 1,006,418 | $11.9M | 0.0% | −397,547 |
| Vanguard Portfolio Management LLC | 954,705 | $11.3M | 0.0% | +447,396 |
| Bridgeway Capital Management, LLC | 908,125 | $10.7M | 0.2% | +63,010 |
| Mackenzie Financial Corp | 885,956 | $10.5M | 0.0% | +296,856 |
| Empowered Funds, LLC | 873,125 | $10.3M | 0.1% | +63,010 |
| Aqr Capital Management LLC | 753,989 | $8.9M | 0.0% | +103,289 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Custom Truck One Source, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARCustom Truck One Source, Inc.1
- CIK0001709682
- Employer ID (EIN)84-25316285
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inDelaware5
- Fiscal year endsDecember 311
- Industry code (SIC)7359 Services-Equipment Rental & Leasing, NEC1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business address7701 Independence Avenue, Kansas City, MO 641251
- Phone(816) 241-48881
- Shares outstanding227,505,535 as of Jul 30, 202612
- Public float$291.4M as of Jun 30, 20255
- AuditorErnst & Young LLP, Kansas City, Missouri PCAOB ID 42; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceJul 3, 20171
- Filings579 in all: 4 (238), 8-K (113), 3 (47), 10-Q (28), CORRESP (18), UPLOAD (14), DEFA14A (11), 10-K (9)1
All 39 form types
425 (9), SC 13D/A (9), DEF 14A (8), SC 13G/A (8), 144 (5), 4/A (5), EFFECT (5), S-8 (5), SC 13G (5), ARS (4), SC 13D (4), SCHEDULE 13D/A (4), 424B3 (3), S-1/A (3), S-3 (3), 25-NSE (2), 424B7 (2), 8-K/A (2), PRE 14A (2), S-4/A (2), 10-Q/A (1), 424B4 (1), 8-A12B (1), 8-K12B (1), CERTNYS (1), D (1), POS AM (1), RW (1), S-1 (1), S-3/A (1), S-4 (1)
- Latest filingsAnnual report (10-K) Mar 10, 2026
Quarterly report (10-Q) Aug 3, 2026
Proxy statement (DEF 14A) Apr 29, 2026
Latest 8-K (8-K) Aug 3, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $0.0001 par value | CTOS | New York Stock Exchange |
From the cover page of the 10-K filed Mar 10, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks Custom Truck One Source, Inc. names in Item 1A of its 10-K filed Mar 10, 2026: 24 risks under these headings, as written.5
- Risks Related to the Company’s Business and Industry
- Effective management of our rental equipment is vital to our business, and an inability to obtain raw materials, component parts and/or finished goods in a timely and cost-effective manner would adversely affect our ability to manufacture and market our products.
- The Company is subject to competition, which may have a material adverse effect on the Company’s business by reducing the Company’s ability to increase or maintain revenues or profitability.
- Our sales order backlog may not be indicative of the level of our future revenues.
- A small portion of our workforce is unionized, and more of our workforce could become unionized in the future, which could negatively impact the stability of our production, materially reduce our profitability and increase the risk of work stoppages.
- A number of key personnel, including our management and skilled technicians, are critical to the success of our business.
- A material disruption to our operation and manufacturing locations could adversely affect our ability to generate revenue.
- The cost of new equipment that we purchase for use in our rental fleet or for sale as inventory may increase, and the aging or obsolescence of our existing equipment, and fluctuations in the market value thereof, could have a material adverse effect on our business, financial condition and results of operations.
- Our business is highly dependent on the timely and sufficient delivery of finished goods, such as commercial vehicles, from our suppliers.
- Our business may be impacted by government spending.
- We may experience losses in excess of our recorded reserves for receivables.
- Uncertainty relating to macroeconomic conditions may reduce demand for our products and services, resulting in non-performance of contracts by our lessees or delays in customer purchase decisions, limit our ability to obtain additional capital to finance new investments, or have other unforeseen negative effects.
The other 13 risks
- If petroleum prices increase, then our results of operations could be adversely affected.
- Regulatory, technological advancement, or other changes in our core end-markets may affect our customers’ spending on the products and services we provide.
- Our strategic initiatives including acquisitions and divestitures may not be successful and may divert our management’s attention away from operations and could create general customer uncertainty.
- Platinum owns the majority of our equity, and its interests may not be aligned with yours.
- The price of our common stock has been, and may continue to be, volatile.
- Risks Related to the Company’s Indebtedness
- We have, and may incur, significant indebtedness and may be unable to service our debt. This indebtedness could adversely affect our financial position, limit our available cash and our access to additional capital and prevent us from growing our business.
- To service our indebtedness, we will require a significant amount of cash. Our ability to generate cash depends on many factors, some of which are beyond our control. An inability to service our indebtedness could lead to a default under the Indenture or ABL Credit Agreement, which may result in an acceleration of our indebtedness.
- The Indenture and the ABL Credit Agreement impose significant operating and financial restrictions on our Company and our subsidiaries, which may prevent us from capitalizing on business opportunities.
- Our variable rate indebtedness subjects us to interest rate risk, which could cause our debt service obligations to increase significantly.
- Risks Related to Information Technology, Cybersecurity and Data Privacy
- Disruptions or security compromises affecting our information technology systems or those of our critical service providers could adversely affect our operating results by subjecting us to liability, and limiting our ability to effectively monitor and control our operations, adjust to changing market conditions, or implement strategic initiatives.
- Risks Related to Legal, Compliance and Regulatory Matters
- We are subject to complex laws and regulations, including environmental and safety regulations that can adversely affect the cost, manner or feasibility of doing business.
- We are subject to a series of risks related to climate change.
- Increased attention to, and evolving expectations for, sustainability and environmental, social, and governance (“ESG”) initiatives could increase our costs, harm our reputation, or otherwise adversely impact our business.
Legal proceedings
We may, at any given time, be named as a defendant in certain lawsuits, investigations and claims arising in the ordinary course of business. While the outcome of these potential lawsuits, investigations and claims cannot be predicted with certainty, we do not expect these matters to have a material adverse impact on our business, results of operations, cash flows or financial condition. In the opinion of management, there are no pending litigations, disputes or claims against the Company that, if decided adversely, would have a material adverse effect on its consolidated financial condition, cash flows or results of operations.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15
- 16
- 17SEC EDGARThomas R. Rich, President
- 18SEC EDGARJoe P. Ross, President
- 19SEC EDGARRyan McMonagle, President
- 20SEC EDGARRobert Blackadar, President
- 21SEC EDGARL. Dyson Dryden, President
- 22
- 23SEC EDGARBrad Meader, Chief financial officer
- 24
- 25
- 26
- 27
- 28SEC EDGARJames Carlsen, EVP - Rentals
- 29SEC EDGARThomas R. Rich, EVP - Rentals
- 30
- 31
- 32SEC EDGARMary M. Jackson, Board member
- 33SEC EDGARBryan Kelln, Board member
- 34SEC EDGARDavid M. Glatt, Board member
- 35SEC EDGARDavid M. Wolf, Board member
- 36SEC EDGARGeorgia R. Nelson, Board member
- 37SEC EDGARJohn-Paul Munfa, Board member
- 38SEC EDGARLouis Samson, Board member
- 39SEC EDGARMarshall Heinberg, Board member
- 40SEC EDGARPaul Bader, Board member
- 41SEC EDGARGerard E. Holthaus, Board member
- 42SEC EDGARDouglas W. Kimmelman, Board member
- 43SEC EDGARJeffrey Stoops, Board member
- 44SEC EDGARRahman D'Argenio, Board member
- 45SEC EDGARWilliam B. Plummer, Board member
- 46SEC EDGARMatthew H. Himler, Board member
- 47SEC EDGARBrooke B. Coburn, Board member
- 48SEC EDGARLawrence Calcano, Board member
- 49SEC EDGARRichard C. Donaldson, Board member
- 50SEC EDGARPaul M. Jolas, General counsel
- 51SEC EDGARAdam G. Haubenreich, General counsel
- 52
- 53SEC EDGARShareholder vote
- 54
- 55SEC EDGARRegulation FD disclosure
- 56
- 57SEC EDGARExecutive or director change
- 58SEC EDGARResults of operations
- 59
- 60SEC EDGARShareholder vote
- 61
- 62
- 63SEC EDGAROther events
- 64NasdaqNasdaq calendar
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